AIG

The AlphaCat CEO will assist AIG with the use of modelling technologies.

The loss contributed to a $1.6bn quarterly cat loss at new parent AIG.

A change of ownership is envisaged comfortably before year-end, it is understood.

Duperreault recognises the quality of the Bermudian reinsurance industry.

Marcus Pollak, who joins from PartnerRe, will lead underwriting process and portfolio management activities for Axis Re.

The insurer’s catastrophe claims came in below budget for Q2, but it is close to triggering a reinsurance deal covering severe non-cat losses.

AIG has sold a 19.9 percent stake in its new legacy vehicle DSA Re to private equity house Carlyle Group as part of a larger effort to build the vehicle into a standalone legacy acquirer.

Amy Stern joined the insurer in 2013 after nearly three years as a senior vice president at Berkley Re America.

AIG's surprise move to take over AlphaCat parent Validus continues the trend for reinsurer-affiliated asset managers to dominate M&A activity within the ILS management sector.

Collateralised operators are among the leading reinsurance providers to Validus, which will need to reshape its buying strategies after it becomes part of the vast AIG network

AlphaCat Managers has told investors that the business will have direct access to a "deeper and broader universe" of insurance risk after its acquisition by AIG

Nephila Capital wrote total limit of $1bn on AIG's expanded catastrophe reinsurance programmes for 2018, Trading Risk can reveal.